Publix Super Markets’ sales for the third quarter of 2014 were $7.4 billion, a 5.1 percent increase from last year’s $7 billion. Comparable-store sales for the third quarter of 2014 increased 5 percent. The Lakeland, Florida-based grocer announced the results Tuesday.
Net earnings for the third quarter of 2014 were $384.2 million, compared to $359.9 million in 2013, an increase of 6.8 percent. Earnings per share for the third quarter increased to $0.49 for 2014, up from $0.46 per share in 2013.
Publix’s sales for the first nine months of 2014 were $22.7 billion, a 5.3 percent increase from last year’s $21.6 billion. Comparable-store sales for the first nine months of 2014 increased 5 percent.
Net earnings for the first nine months of 2014 were $1.3 billion, compared to $1.2 billion in 2013, an increase of 4.1 percent. Earnings per share increased to $1.64 for the first nine months of 2014, up from $1.58 per share in 2013.
Effective Nov. 1, Publix’s stock price decreased from $33.85 per share to $33.80 per share. Publix stock is not publicly traded and is made available for sale only to current Publix associates and members of its board of directors.
“I’m pleased that our Publix associates delivered strong results,” said Publix CEO Ed Crenshaw. “Unfortunately, these results were not enough to offset challenges in the stock market.”
